Advanced Energy Technologies

What Advanced Energy Technologies does

Advanced Energy Technologies Renewables Plus Co. Inc. (AET) is a Philippines-based, privately held project developer and systems integrator delivering renewable energy, thermal, and water-technology solutions across three verticals: Renewables (solar PV — grid-tied, hybrid, and off-grid — plus wind and biogas/biomass gasification), Thermals (steam boilers, chillers, non-electric absorption air conditioning), and Water Technologies (filtration, softening, desalination, effluent and zero-discharge treatment). Founded in Thailand in 2012 by former Merrill Lynch banker Samuel West Stewart and now headquartered in Pasig City, AET serves industrial and manufacturing customers (food and beverage, packaging, dairy, steel, textiles, oleochemicals, coconut processing), commercial buildings, and residential homeowners in the Philippines, with cross-border project precedents in Thailand, Singapore, and India.

The business operates an integrated delivery model combining engineering, procurement, and construction (EPC), build-own-operate-transfer (BOOT) arrangements, and after-sales service contracts, drawing on a partner-supplied technology stack that includes GE biomass gasification systems, Thermax/Sitong/Rakhoh boilers, Longi and Jinko Solar panels, and Supermax-distributed brands. AET runs three coordinated go-to-market motions: direct enterprise sales for C&I EPC projects across Luzon and Mindanao; a solar trading house launched in January 2022 that distributes panels, inverters, battery storage, and balance-of-system components to installers and EPC contractors; and project financing channels led by Singapore-based Tigris Asset Management (up to $3 million per C&I project as principal investor for BOT/BOO) and SB Finance (exclusive consumer loan partner for residential and sub-50 kWp commercial solar). Service-based offerings such as Solar-as-a-Service and Steam-as-a-Service provide recurring-revenue overlays on top of one-time EPC revenue.

The company cites a portfolio exceeding 7 MWp of rooftop and hybrid solar installations, ongoing delivery of a 900 kWp rooftop project for Corbox, and more than 3 million tons of legacy CO2 abatement through UNFCCC CDM projects (1999–2012), with marquee reference customers including Nestlé Philippines, Pepsi-Cola Products Philippines, Steel Asia, Corbox Corporation, Pampanga's Best, and PTT Thailand. Key milestones in 2024 include the US AID/RTI Mobile Energy Systems contract, the SB Finance consumer loan launch, and the Jinko Solar supplier MOU, signaling active expansion of both revenue streams and channel partnerships.

Name

Advanced Energy Technologies

Legal name

Advanced Energy Technologies Renewables Plus Co. Inc.

Website

https://aet-rp.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Advanced Energy Technologies (AET) is a Philippines-based systems integrator and project developer delivering solar PV, biomass, thermal (boilers/chillers), and water-technology solutions to industrial, commercial, and residential customers via EPC, BOOT, and Solar-as-a-Service models.

Ownership category

akta.pro rank

Product category

Renewable Energy Systems Integration

NAICS

Solar Electric Power Generation (221114), Electric Power Generation (22111), Wind Electric Power Generation (221115), Engineering Services (54133), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)

SIC

Cogeneration Services & Small Power Producers (4991), Services-Computer Integrated Systems Design (7373), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580)

akta.pro primary industry

Hybrid Renewable + Storage Plant Integration (Solar+Storage, Wind+Storage) (EUAEAEAE)

akta.pro secondary industries

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Solar PV systems
• Renewable energy EPC
• Biomass gasification systems
• Industrial boiler systems
• Water treatment solutions

Headquarters

HQ city

Pasig

HQ country

Philippines

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Solar PV System Sales and Installation: EPC (Engineering, Procurement, Construction) services for solar PV installations including rooftop and ground-mounted systems for commercial, industrial, and residential applications. Revenue generated from equipment supply, installation, and commissioning.
2. Solar-as-a-Service and Steam-as-a-Service: After-sales service model where customers pay for ongoing operational support, maintenance, and performance services for installed systems. Provides recurring revenue through service contracts and facility management agreements.
3. Solar Trading House: Distribution and sales of solar PV panels, inverters, battery storage, small scale wind turbines, and balance of system components. Trading house business launched in 2022 targeting installers, systems integrators, and EPC contractors for projects under 100 kWp.
4. Project Financing: AET arranges financing for renewable energy and energy efficiency projects through partnerships with financial institutions, with capital equipment and project developments offered with 'pay as you go' financing options.
5. Boiler and Chiller Systems: Supply, installation, commissioning, and maintenance of industrial boiler systems and refrigeration/air-conditioning equipment. Includes rehabilitation, maintenance, and spare parts supply.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Advanced Energy Technologies (AET) is a system integrator and project development company that designs, supplies, installs, and finances renewable energy, thermal, and water technology systems. Core offerings include rooftop and ground-mounted solar PV systems, biomass and biogas gasification, steam boilers, non-electric chillers, and water/wastewater treatment plants. The company delivers projects under EPC, BOOT, and 'as-a-Service' models, complemented by project financing arranged through partners such as Tigris Asset Management and SB Finance.

Product overview

Advanced Energy Technologies (AET) is a project developer and systems integrator offering a diversified portfolio of energy, water, and thermal technology solutions. The company operates across three core verticals: Renewables (solar PV systems and trading, wind energy, biogas/biomass), Thermals (steam boilers, chillers, air conditioning), and Water Technologies (treatment and filtration systems). AET's primary offerings include solar PV installation services under the AET Solar brand, comprehensive boiler and chiller systems, and water treatment solutions. The company provides multiple financing models including Solar-as-a-Service, Steam-as-a-Service, and traditional project financing through partners like Tigris Asset Management and SB Finance. Their solar trading house distributes panels from major brands (Canadian Solar, LONGi, Trina, Jinko Solar) and inverters (Sun Grow). Project delivery follows EPC and BOOT models with O&M services.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar PV Systems (Rooftop and Ground-Mounted) Grid-connected, hybrid, and off-grid solar PV systems for residential, commercial, and industrial customers, including rooftop and ground-mounted installations with optional battery storage. Delivered as EPC projects under AET Solar brand.
• Wind Energy Systems Wind energy engineering design and installation services, including solar-wind-battery hybrid systems for mini-grid and off-grid applications.
• Biogas and Biomass Gasification Systems Biogas and biomass engineering design, installation, and operation; modular biomass gasification systems using GE technology convert agricultural waste (Napier grass, coconut shells, rice husks) into combustible gas for power generation.
• Steam Boilers and Thermal Systems Industrial steam boiler supply, installation, commissioning, and maintenance, including waste heat recovery, biomass, diesel, and natural gas boilers sourced from Thermax, Sitong Boiler Company, and Rakhoh Boilers.
• Chillers and Air Conditioning Systems Direct-fired, exhaust-fed, and gas-fed chillers plus non-electric central air conditioning and process chilling systems, including chiller accessories and chemical supply for industrial clients.
• Water and Wastewater Treatment Systems Filtration plants, softening plants, demineralization, seawater desalination, effluent treatment plants, zero discharge plants, and sewage treatment plants for industrial and municipal clients under O&M and BOOT models.
• Solar Trading House Wholesale distribution of solar PV panels, inverters, battery storage, small-scale wind turbines, and balance of system components to installers, systems integrators, and EPC contractors for projects under 100 kWp.
• Solar-as-a-Service Zero first-cost solar PV installation model where AET owns and operates the system and customers pay monthly based on actual solar generation or flat rates below utility kWh pricing.
• Steam-as-a-Service Managed steam generation service for industrial clients delivering process steam without requiring upfront capital investment from customers.
• Project Financing (BOOT/EPC Financing) Arranged project financing for renewable energy and energy efficiency developments via Tigris Asset Management (Singapore), international banks, and PE Groups, with operating-budget style 'pay as you go' financing for capital equipment.
• SB Finance Consumer Loan for Solar Multi-purpose collateral-free consumer loan from P30,000 to P2 million PHP, payable up to 36 months, exclusive to AET solar power systems for residential projects and commercial projects up to 50 kWp.
• Energy Efficiency Services Energy audits and efficiency projects delivered through an ESCO partner for industrial clients, targeting 15% ROI or better under the Philippine Energy Efficiency & Conservation Act (R.A. 11285).
• Mobile Energy Systems (MES) Mobile energy systems designed, constructed, and commissioned by AET for energy security programs under the US AID/RTI initiative for the Philippines Department of Energy.

Quantifiable outcome

• 25-30 year lifespan with minimal maintenance for Solar PV systems
• +4 more outcomes

Named customers19 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core, major, strategic and standard.

• US AID / RTI InternationalcoreStrategic or Co-development Partner · 1 July 2024In July 2024, AET was awarded a contract by US AID and RTI International to design, construct, and commission Mobile Energy Systems (MES). The MES is part of the Department of Energy's Energy Security program. US State Dept continued the program after temporary halt. MES units were turned over to Napacor on May 19, 2025 at ceremony presided by US Ambassador Mary Kay Carlson.
• Jinko SolarmajorTechnology or Integration · 1 January 2024In 2024, AET signed an MOU to represent Jinko Solar, a major panel supplier known for higher efficiency panels and competitive pricing. This expands AET's panel supplier portfolio alongside Longi and Supermax distributors.
• Sitong Boiler CompanymajorTechnology or Integration · 1 January 2022AET partnered with Sitong Boiler Company (China) after Thermax reduced its SE Asian footprint during the pandemic. Sitong is one of China's premier boiler technology concerns, and AET remains highly competitive on technical excellence, pricing, and after-sales services through this partnership.
• Longi GroupmajorTechnology or Integration · 1 January 2021AET has been a member of the Longi group of distributors since 2021, supplying Longi solar panels for commercial and industrial rooftop projects. Longi panels have been used in multiple AET installations including the 350kWp Molave project.
• ExorastrategicGTM or Marketing Partner · 1 July 2020Exora, a Filipino energy solutions platform using technology and digitalization to lower energy costs, partnered with AET to promote energy efficiency. AET joined Exora for a master class and launching of Exora Source platform for transparent retail electricity supplier procurement. One successful partner is Liberty Flour Mills.
• Sri Padmavathi EngineeringstandardStrategic or Co-development Partner · 1 January 2018Sri Padmavathi Engineering (headquartered in Chintal, Hyderabad, India) launched a joint venture with AET. The company is certified as a Boiler contractor by the Government of Telangana, headed by Sudhakar M.
• Thermax (India)coreTechnology or Integration · 1 August 2017AET is an authorized dealer of Thermax products and services including boilers and heaters, absorption cooling products, steam engine products, air pollution control equipment, and water and waste treatment solutions. AET represented Thermax Boiler Company from 2012-2020 on boilers and chiller technologies. Currently working with Rakhoh Boilers (Pune, India) for boiler projects. Thermax provides technical and commercial support to AET.
• GE (General Electric)coreStrategic or Co-development Partner · 1 January 2014GE partnered with AET and Pampanga's Best to install the Philippines' first biomass gasification project. AET promoted GE gasifier technologies related to IISc Bangalore and GE India. With GE's integrated biomass gasification solution, 60 hectares of Super Napier Grass yields 1 MW of power. GE is also involved in AET's 110 MW coal power plant proposal in Misamis Oriental.
• PR Associates (Mumbai)standardTechnology or Integration · 1 January 2014AET worked with PR Associates during the F.I.T. period of 2014-2016, developing more than a dozen solar projects in the Philippines, some of which were executed.
• Supermax DistributorsstandardChannel Partner/ Reseller/ DistributorAET works with Supermax distributors for several solar panel brands, complementing its Longi distribution membership and Jinko Solar MOU.
• Thermax Solar (India)standardTechnology or IntegrationAET spent 3 years as strategic partners with Thermax Solar of India on more than 2 MWp of rooftop solar projects.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Solar Philippines: Philippines-headquartered solar developer and EPC focused on rooftop and utility-scale PV. Direct overlap with AET in distributed commercial and industrial solar EPC, customer base of industrial and residential customers, and channel through installer networks.
• Hivelux Power Corporation: Philippines-based solar EPC and energy solutions provider serving C&I customers. Comparable to AET in commercial/industrial rooftop solar, system integration, and after-sales O&M, with overlapping target segments.

Broad incumbents

• AC Energy (Ayala Corporation): Renewable energy arm of Ayala Corporation, one of the largest Philippine renewables developers with utility-scale solar, wind, and battery storage. Overlaps AET on solar EPC and renewables platform but operates at much larger scale and capital base.
• First Gen Corporation: Lopez Group's Philippine clean energy platform spanning geothermal, hydro, solar, and natural gas. Overlap with AET on renewables and trigeneration/distributed energy themes, but as a multi-asset incumbent rather than EPC specialist.
• Aboitiz Power Corporation: One of the largest Philippine power groups with growing renewable generation portfolio and C&I supply businesses. Overlaps AET on the customer side (industrial power users) and on distributed/utility-scale solar ambition.
• Energy Development Corporation (EDC): Lopez-led geothermal and renewable energy operator in the Philippines. Adjacent to AET in the renewables theme and serves some of the same industrial customers, but operates as a generation asset owner rather than EPC/integrator.
• Thermax Limited: India-headquartered EPC and equipment supplier for boilers, heaters, chillers, absorption cooling, and water/wastewater. Direct overlap with AET's Thermals and Water verticals; former technology partner of AET.
• Sungrow Power Supply: Global leading inverter and energy storage system supplier active in distributed solar and utility-scale storage. Comparable in product overlap to AET's hybrid solar+storage systems and a potential supplier peer rather than a customer competitor.

Emerging players

• Symbior Energy (Thailand): Thailand- and SE Asia-focused solar PV and biomass developer historically tied to AET management's early work in CDM. Comparable regional renewable EPC profile to AET with a similar biomass/solar hybrid heritage.
• Cleantech Solar: SE Asia-headquartered provider of solar-as-a-service and C&I solar PPAs. Closest comparable to AET on the 'zero-upfront' solar service model targeting industrial customers in the region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/philippinesgreen
• LinkedInlinkedin.com/company/aetsolar

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Advanced Energy Technologies